Payments tech company Payoneer is preparing to appoint a new finance chief.
Bea Ordonez, a two-decade veteran of the FinTech sector, is set to be named the firm’s new chief financial officer, the company said in a news release Wednesday (Jan. 18).
Ordonez was hired Monday (Jan. 16) as Payoneer’s deputy CFO. When current CFO Michael Levine steps down from his role in March, the company’s board is expected to name Ordonez as his replacement, the release said.
“Bea is a proven leader with diverse expertise in the financial technology industry and has experience as CFO of multiple publicly traded companies,” said John Caplan, co-CEO of Payoneer. “I am confident that she will be an impactful leader as we continue to evolve our broader executive team and execute on our strategic priorities.”
Ordonez joins Paynoneer from Webster Bank, where she served as chief innovation officer. She has also held CFO positions at Sterling National Bank, OTC Markets Group, and G-Trade, and served as chief operating officer at Convergex.
Also Wednesday, Payoneer says it expects to exceed full-year guidance for 2022 and reaffirmed its past commitment to increase adjusted EBITDA for 2023. The company will release its quarterly and full-year results in February.
PYMNTS has collaborated with Payoneer on a number of studies, including the recent International B2B Payments: A Guide For Entrepreneurs And Digital Businesses.
That study shows that 90% of businesses worldwide qualify as small and medium-sized businesses (SMBs), representing more than 50% of global employment.
While many of these businesses hold deep roots in their communities, some have increasingly become entrepreneurial on a global scale, launching online, international ventures.
However, there are some obstacles to these efforts, such as a lack of access to necessary financial services to power their international reach. A little more than a quarter of SMBs see the complexity of cross-border payments as hindering their ability to grow, and just 23% of SMBs described their current cross-border payment solutions as “very” or “extremely” satisfactory.
Last week, PYMNTS spoke with Payoneer Senior Vice President, Americas Ya Wen about the growth of the cross-border eCommerce sector, and how its expansion will be helped by platforms that help online sellers when trading in new geographies.
“[Consumers] will be more conscious about their wallet,” Wen said. “They’re looking for bargains, they’re looking for deals. eCommerce marketplaces will face stronger competition from offline brick-and-mortar retailers, which means they will steer their marketplaces to be more low-cost and deal-driven to remain competitive.”